Mariners Cottage, Trenwith Lane, St. Ives, Cornwall, TR26 1DW

Description

A three bedroom detached dormer bungalow requiring refurbishment situated in a good sized plot, with on drive parking for several vehicles and enjoying sea views to the rear.

Accommodation

Ground Floor: Entrance hall, living room, kitchen, dining room, conservatory, bedroom and shower room. Lower Ground Floor: Utility room and WC. First Floor: Landing, master bedroom, one further bedroom and family bathroom.

Location

St Ives is a thriving and sought after coastal town, with its working harbour, sandy beaches and art galleries, with a wide range of bespoke shops, cafes and restaurants. St Ives continues to be a popular tourist destination, being readily accessible from the A30 and having a branch line to Penzance.

Tenure / Property Information

Investment Analysis

The only supplied comparable is the same property’s £75,000 freehold sale in September 1997. This historic transaction is insufficient to establish a current market value or GDV, particularly for a property described as requiring refurbishment. The auction guide is not treated as a valuation.

Investment Snapshot

Strategy Recommendation

Do not bid without a full inspection, legal-pack review, current valuation evidence, rental evidence and a detailed refurbishment quotation.

Works Required

Refurbishment is required, but the evidence does not specify the defects, scope or specification. Further inspection and review of the legal pack are required before costing works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because current GDV, refurbishment cost, supported rent and finance assumptions are unavailable. The property’s refurbishment requirement creates execution and valuation risk.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate was supplied. Refurbishment costs, tenure details and total acquisition costs are also unconfirmed.

Flip Analysis

A flip surplus cannot be calculated. The only sale evidence is a 1997 transaction, while no current GDV, refurbishment budget or selling allowance is supported by the evidence.

Investor Risks & Due Diligence

• The property is stated to require refurbishment, but the scope and cost of works are unknown.

• No sufficiently specific rental evidence or passing rent is supplied.

• The only comparable is the same property’s 1997 sale, which is too historic to support a current valuation.

• Tenure, occupancy and lease information are not supplied.

• Buyer premium and administration charge both apply at 1.35% plus VAT, subject to stated minimums; additional legal-pack fees may also apply.

Recommendation

Do not bid without a full inspection, legal-pack review, current valuation evidence, rental evidence and a detailed refurbishment quotation.

Strategy Rating

Analysis Confidence

Evidence includes a description, auction guide, fee terms and one historic comparable, but lacks current comparable sales, rental evidence, refurbishment costs, tenure confirmation and occupancy details.